Pernod Ricard sells Tia Maria

28 July, 2009

Pernod Ricard's disposal programme continues with the sale of Tia Maria to Illva Saronno. Offloading the coffee liqueur will raise Ä125 million (£108 million) for the company and is part of its strategy to reduce debt.

Since its acquisition of Vin & Sprit in July 2008, Pernod Ricard said it had disposed of assets totalling over Ä700 million.

The deal will see Chivas Brothers take on production of Tia Maria for Illva Saronno, and, in the short-term, Pernod will continue to distribute the brand.




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